EQT CORP - EQT STOCK NEWS

EQT Corporation reported its fourth quarter and full-year 2020 results, highlighting a net income of $64 million for Q4, compared to a loss of $1.177 billion in the previous year. Sales volumes increased to 401 Bcfe, aided by the acquisition of Chevron's assets. Operating costs reduced to $1.30/Mcfe, below guidance. The company achieved $406 million in net cash from operations and $109 million in free cash flow. For 2021, EQT anticipates sales volumes between 1,620-1,700 Bcfe and free cash flow of $500-$600 million, indicating a potential 10-12% yield.

EQT Corporation has launched a pilot project to produce responsibly sourced natural gas (RSG) aimed at meeting growing global energy demands. This initiative, in partnership with Project Canary, emphasizes high environmental and social standards. The project will involve third-party certification and real-time methane emissions monitoring on selected well pads. A global energy company has committed to purchasing a portion of the RSG produced. EQT aims to enhance transparency and improve its ESG performance, showcasing its commitment to responsible energy development.

EQT Corporation (NYSE: EQT) has initiated a pilot project aimed at producing responsibly sourced natural gas (RSG) to meet growing domestic and international energy demands. This project reflects EQT's commitment to environmental, social, and governance (ESG) leadership. The pilot involves third-party certification of two well pads, with real-time methane emissions monitoring provided by Project Canary. A global energy company has agreed to purchase a portion of the RSG produced. This initiative aims to enhance stakeholder confidence and transparency in energy production.

EQT Corporation (NYSE: EQT) has announced a conference call scheduled for February 17, 2021, at 10:30 a.m. ET, aimed at discussing the company's financial and operational results for Q4 and year-end 2020. The session will also provide an update on 2021 financial guidance, followed by a Q&A segment for securities analysts. Financial results will be published before the market opens on the same day. Interested parties can access the live webcast on EQT's investor relations website.

U.S. Well Services (Nasdaq: USWS) announced the execution of two contracts with EQT Corporation (NYSE: EQT) to expand its electric fracturing services. These agreements extend the current contract for one electric frac fleet and introduce a second fleet on a contracted basis, potentially leading to multi-year dedications if all options are taken. This move highlights EQT's commitment to utilizing U.S. Well Services’ Clean Fleet® technology, which enhances operational efficiency and reduces emissions compared to traditional diesel fleets.

EQT Corporation reported year-end 2020 total proved reserves increased by 13% to 19.8 Tcfe, driven by its acquisition of Chevron's Appalachian assets and enhanced operational efficiencies. Proved developed reserves rose by 10% to 13.6 Tcfe, while proved undeveloped reserves grew by 23% to 6.2 Tcfe. The company improved future development costs to $2.26 billion, marking a 29% improvement from 2019. EQT has hedged approximately 80% of its expected 2021 production, highlighting its commitment to mitigating downside risk.

EQT Infrastructure has announced its acquisition of Molslinjen A/S, Denmark's largest passenger ferry company, from a group led by Polaris. Founded in 1963, Molslinjen operates 15 vessels and serves over eight million passengers annually, generating approximately DKK 1.9 billion in revenue in 2019. The acquisition, aimed at enhancing the company's sustainability and electrification efforts, is expected to close in early 2021, subject to approvals. EQT plans to support Molslinjen's green initiatives and improve customer service.

EQT Corporation (NYSE: EQT) has amended its tender offer to purchase up to $200 million of its Senior Notes, increasing the Maximum Tender Amount from $150 million. The 2022 Notes have a limited Tender Cap of $181,177,000, leading to a pro rata acceptance due to excess tenders. The early results show that the 2021 Notes will be fully accepted, while the 2022 Notes will be accepted based on a proration factor of 83.8%. Payment for accepted Notes is expected on November 17, 2020, with the tender offer set to expire on November 30, 2020.

EQT Corporation announced the pricing of a $350 million offering of 5.00% senior notes due January 15, 2029. The notes are to be sold at par, with the offering expected to close on November 16, 2020, pending customary conditions. Proceeds from the offering will help finance EQT's acquisition of upstream and midstream assets from Chevron U.S.A. Inc. If the acquisition does not occur, EQT plans to use the funds to repay debt and for general corporate purposes. BofA Securities, Citigroup, Credit Suisse, and Wells Fargo Securities are managing the offering.